Find Your Money

Farnoosh's Tips for Scoring Your Own Hidden Money

Monday, June 18, 2012 -- 5:00 AM

Not everyone is lucky enough to win the lottery, but that doesn't mean you can't find some hidden treasure! Whether it's tapping into your own items at home or appealing to the government, there is "secret" money all over.

Personal Finance Expert Farnoosh Torabi knows just where to look when it comes to uncovering hidden money. She mentions some of her tips on the show, but we have even more tips for how you can find secret money that Farnoosh didn't mention on TV.

Click through for her advice on where you can go to claim your own riches.

Farnoosh's Tips for Scoring Your Own Hidden Money


Cash in Items Around the House

Most people have old items around the house that they don’t even realize are valuable. Farnoosh recommends people look through their junk drawers for items that may be worth money. In particular, electronics — such as old iPods, cell phones or Discmans — will be lucrative. You can sell these items online at websites like Gazelle.com or NextWorth.com. Stores such as Target and Staples will also let you trade in old electronics for store gift cards.

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Clean Out Your Closet

Look for any clothes in your closet that are lightly worn or that still have their tags — especially shoes or jeans that are in good shape. Collect these clothes and sell them back to vintage stores or consignment shops. If you’re rejected at one store, don’t give up. Different stores have different parameters as to what they’ll accept, so keep trying different items of clothing at different places.

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Claim Your Unclaimed Money

Farnoosh says that there is currently about $33 million of unclaimed money sitting in government coffers. This money piles up from people’s unclaimed checks, unclaimed dividends, missing pension plans from previous jobs, etc. There are three great websites Farnoosh recommends you check out: MissingMoney.com, Unclaimed.org and TreasuryDirect.gov. All you have to do is type in your name and your unclaimed money will be revealed.

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Raid Old Toy Chests

Whether your kids have outgrown their old toys or are out of the house completely, their old toy chest can quickly become your treasure chest. Toys that aren’t being used anymore are often collectible, and they can be worth a good deal of money if you auction them off online. Farnoosh has seen special, collectible Beanie Babies with starting bids as high as $750,000.

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Trade-In Gold

The cost of gold has skyrocketed over the past few years, so by filtering through your old jewelry, you could strike a literal goldmine. If you have a single gold earring missing its mate, or gold chains you no longer use, consider bringing that gold to a local jeweler for an estimate.

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Sell Textbooks

Raid your dusty, old bookshelves and look for those high school or college textbooks from your past, or your kid’s past. By selling old textbooks online, you can rack up hundreds of dollars. Farnoosh recommends selling books at Powells.com.

Filed Under: As Seen On The Show

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